Ray White Portfolio Magazine - April 2022

P O R T F O L I O APRIL 2022

2022 FLOODS - THE IMPACTS ON INDUSTRIAL Growth in Australia’s coastal markets

Mount Tamborine ‘investors playground’

Long military career leads to commercial real estate success

ANDREW FREEMAN Head of Agency Operations

March has been a very busy month for Ray White Commercial as we start to ound out t e st ua te of I’d like to extend my praise to our amazing asset managers and the fantastic job t ey did dea in it t e floods in bot sout east ueens and and no t e n ac of ou asset mana e s um ed into action to c ec on eve y asset and ovide as many u dates to ou c ients as ossib e With the upcoming Federal election along with the war in Ukraine, many stakeholders have speculated on how these events will affect the commercial real estate ma et i e io e ections ave s o ed t e ma et, t is ust c eates mo e o o tunity fo t ose buye s and se e s o c oose to emain active u s ac oss t e count y a e etu nin to ife es ite many o e s en oyin t e fle ibi ity of o in f om ome, many ave on ed fo t e connection and collaboration with colleagues, which is seeing many businesses ado tin a e manent yb id o o icy is ne mode is a o in o e s to ave t ei ca e and eat it too s mo e t af c etu ns to ou ca ita cities, e s ou d sta t to see mo e activity and o o tunity in ou ma ets n este n ust a ia, ay ite omme cia a ents ett i ins and i oiti so d fou etai ots in t e e t fo a tota of mi ion ocated at a ac t, t e ots e e a t of e o e s in i abet uay e o e ties e e so d to a ivate oca investo and a ivate on on investo u ai man s and ite confe ence in a c as a u e success t as eat to b in a of ou to e fo min a ents f om ac oss ust a ia and e ea and to et e to ce eb ate t ei success ove t e ast yea ie as b ou t it it some c a en es so fa , ay ite omme cia has continued to show its resilience, and I look forward to seeing what else we can ac ieve fo ou c ients t ou out t e est of t e yea

QUICK JUMP TO A REGION QLD VIC/SA/TAS

NSW

ACT

WA

NZ PORTFOLIO | Ray White Commercial | 3

FLOOD IMPACTS ON SEQ INDUSTRIAL MARKET It’s been a difficult few weeks in south east Queensland and northern NSW as communities battle against rising flood waters impacting the livelihoods of residents, businesses and property owners. While some come to grips with this unexpected reality, there are many, notably in the SEQ corridor, which remember the impacts of the Brisbane floods of 2011 and are now faced with the prospects of rebuilding again.

For the commercial property markets, we are in a different environment at the moment compared to the 2011 period. Over the last 18 months we have seen significant increases in demand to purchase assets, notably across the industrial asset class. Industrial land values have climbed to new highs, vacancies are at an all time low, and investment yields break new benchmarks falling to their lowest rates ever on record.

Fuelling this strong demand has been the weight of funds available to be invested, low interest rates, cash rich buyers, and burgeoning second tier lenders in the market actively competing for business. We have seen more first time buyers make their foray into commercial real estate over the last 12 months than ever before, and industrial and its wide range of price points and high occupancy has made this an attractive investment choice. While these smaller buyers may be in the sub $1.5 million price range, we continue to see much activity by private investors, family offices, private syndicates up to $50 million while larger groups such as REITS, funds, developers and offshore buyers continue to aggressively compete in the upper price ranges.

VANESSA RADER Head of Research

4 | PORTFOLIO | Ray White Commercial

HOW WILL INDUSTRIAL ASSETS BE IMPACTED, AND WHAT LESSONS HAVE WE LEARNED FROM 2011?

During the time of the 2011 Brisbane floods, the demand for quality stock was not aligned to what it is today. Higher vacancies saw tenants able to relocate quickly, while assets sat in the clean up phase for a prolonged period. We saw yields during this time rise by as much as 2% for flood affected properties, rents drop more than 15% as incentives skyrocket all resulting in a significant compression in capital values. Furthermore, owners were hit by rising insurance premiums further pressuring their bottomline. The effects of the flood continued to be felt for three to four years later, with those assets still attracting discounts to secure a tenant or when sold with LVR’s representative of their increased risk.

Fast forward to 2022 and for many buyers, perceptions have changed. The lack of quality stock in the marketplace and the insatiable demand to purchase has seen some turn a blind eye to the floodwaters. Many prospective buyers continue to request access to view assets despite the knee high flood waters, with some eager buyers requesting to be advised when waters were down to “gumboot height” so they could inspect a property.

Tenants however will feel the pinch during this time. With few vacancies in some SEQ markets, landlords have been more selective in their tenant selection and those needing urgent accommodation options will be faced with rental increases and non-existent incentives.

While the market may power through, there is no doubt owners will be faced, yet again, with clean up costs and rising premiums. With a shortage of trades and growing development costs this could be an expensive exercise. For developers and many owner-occupier builders this was already being felt - new developments had slowed and, while demand to occupy is high, the high cost to develop will likely set new benchmarks for tenants growing rents.

While banks and financial institutions have been amenable of late, the prospect of interest rate rises and the real threat of natural disaster more often than predicted could see greater difficulty in securing funds which should filter through to the yield achievable. While some discount is anticipated it is unlikely that the current low rates will grow as they did in 2011 particularly if FOMO continues with some buying groups. A more considered approach will be needed by purchasers and banks to ensure that the increased risk is appropriately factored into values but with rents unlikely to reduce considerably this may be a difficult task.

PORTFOLIO | Ray White Commercial | 5

RAY WHITE COMMERCIAL QLD ANNOUNCES NEW PARTNER Top agent Tom Barr has partnered with the White family and Michael McCullagh in Ray White Commercial QLD to take the business to the next level.

A key player in Brisbane’s commercial real estate landscape, Mr Barr is in good company, becoming an equity partner at Ray White Commercial’s number one performing team internationally.

“Since I joined the Ray White Commercial QLD team three years ago, I have been continually impressed by the passion, integrity, and family culture that flows from the White family,” Mr Barr said.

Mr Barr will now help lead the 25-strong team alongside Michael McCullagh, who stepped into partnership with the White family two years ago.

“I am looking forward to continuing our momentum as we take the business to an even greater level of performance,” Mr Barr joined Ray White Commercial at the height of his career, citing the core values of the group and the opportunity for entrepreneurship and growth.

“A huge factor in my decision to move a few years ago was the professional relationship I have had with Dan White over the years, and his ambition in partnering with the right people to create something special,” he said.

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Ray White Commercial QLD Managing Director Michael McCullagh said he was delighted to see Tom Barr elevate into an ownership position.

“Tom’s pathway has been clear to us from day one, he’s an industry leader, incredibly well connected and admired both locally and nationally,” he said.

“He’s been operating at a top level for almost 20 years.

Not only does he lead by example with his impeccable professionalism and results, he wants to attract and foster more aspiring young property professionals.”

“We are immensely proud of the impact Tom has already had on our business over the last few years and we are excited for our future with him as a partner,” Mr McCullagh said.

Ray White Group Managing Director Dan White said he was thrilled to see Mr Barr elevated to partner in this joint venture.

“This is the next step in the evolution of Ray White Commercial QLD, and I couldn’t think of a better duo to lead an already thriving business,” Mr White said.

“Over the years, our business has undergone a number of iterations reflective of the leadership ambitions of our members, and we are thrilled that this is the next step for our team.”

VA N E S S A R A D E R

GROWTH IN AUSTRALIAN C O A S TA L O F F I C E M A R K E T S There has been significant turbulence across the global office markets over the past couple of years, as staff were encouraged to work from due to the threat of

-1 and subsequent e tended lockdowns.

s employers

grapple with the forced change in working conditions, many staff have embraced this new era, resulting in some reluctance to move back into major s on a full time basis, even as lockdown restrictions ease.

To counter this change we have seen many different working models emerge, including the combination of working from home working from office working close to home as employers provide satellite office locations or more local shared office options so collaboration isn t affected. These changes have seen less staff in the office at any one time, with hot desking rampant. This has resulted in a growth in subleased office space in many locations, and many suburban markets have reaped the benefits. ore noticeable, however, has been the shift in office requirements following population change.

ver the last two years, we have seen a

significant increase in interstate migration out of traditional office user states such as New outh some e tent

estern

ales and

ictoria into

ustralia and Tasmania.

ueensland and to

combination of lifestyle

and affordability has seen the population relocate, spurred on by the greater ability for the workforce to work remotely. This is most apparent in markets such as the unshine oast and old oast which have witnessed strong interest by both risbane-based and interstate businesses looking to provide local office facilities for their broadening workforce. This has resulted in net uptake of office space during 2021 at 1 ,06 sqm and 1 ,216sqm respectively causing office vacancies to tumble, while vacancies continue to increase.

PORTFOLIO | Ray White Commercial | 7

These markets offer a mix of weather, lifestyle, affordability which have not gone unnoticed by the Australian population with the continued investment into infrastructure in this region growing its attractiveness. While these markets traditionally have been plagued by older style stock, new developments have attracted a growing pool of potential occupiers resulting in A grade vacancies falling, and demand to invest growing.

Over this same period, we have also seen new business starts in Queensland grow ahead of any other state, suggesting new ventures borne out of COVID-19 employment changes have occurred. We’re seeing these small businesses now outgrow their home start-up and as a result we’ve seen an increase in enquiry for office stock in the sub-250sqm size range. The uptick in requirement for new commercial spaces benefits the local markets due to the variety of businesses needing space. CBD locations in Sydney and Melbourne are heavily weighted towards finance, legal, and professional users. This puts pressure on occupancy levels when economic uncertainty rises, which impacts employment. However, the new mix in tenant types in these Queensland locations spreads risk if sectors of the employment market shift in the future.

While Queensland has the greatest example of this shift to the coast, we have also seen these movements in New South Wales as population movements to regional centres increase. Wollongong, south of Sydney has also enjoyed growth in demand during 2021 of over 6,000sqm, while Newcastle to the north has also seen improvement in demand of 11,446sqm over the same time period.

While these coastal markets enjoy their new, vibrant workforce it’s unclear if this is a passing fad or a long term shift in employment. While the concept of remote working has been accepted during the pandemic, how workforces engage their staff in the years ahead could result in a greater push to suburban, regional and coastal locations or cement our CBDs as economic business hubs. Regardless, the change in population to these locations will continue to see these markets thrive in the short to medium term.

8 | PORTFOLIO | Ray White Commercial

APARTMENT DEVELOPMENT SITE SELLS FOR $7.7 MILLION A Stones Corner development site with approval for a residential apartment block has sold for $7.7 million.

The 2,075sqm parcel over five titles has development approval for 108 residential apartments, including 39 one-bedroom units, 33 two-bedroom units, 33 threebedroom units, 2 four-bedroom units, and a managers unit.

The property, located at 58-62 Lincoln Street and 10 Flora Street, was marketed by Ray White Special Projects agents Mark Creevey, Tony Williams, and Matthew Fritzsche.

Mr Creevey said the site generated substantial interest, with 58 enquiries in total, from parties based within South East Qld, Sydney, and Melbourne.

“The majority of groups with interest were looking at the site for residential apartments; however, there was also interest from groups with interests in social and affordable housing and build-to-rent,” he said.

“The parties that expressed the strongest interest in the site have indicated that they were primarily attracted to the site due to the location, the existence of a development approval and the project scale of 108 units.

The property received multiple offers as a response to the expression of interest campaign, and was sold to a Brisbane based builder developer Gardner Vaughan Group.

“The group had recently sold out of all stock in their existing projects and were actively seeking another project to re-fill their pipeline,” Mr Williams said.

“While there are currently concerns in the sector in relation to construction costs, demand for well located apartment sites remains high.”

With detached dwelling prices having increased in Brisbane throughout 2021, Mr Fritzsche said investors and first home buyers are finding themselves priced out of this market and having to fall back upon apartment options.

“This is relative to both secondary (older stock) and new projects,” he said.

“Further drivers include record low interest rate conditions, limited availability of supply and the relative affordability of pricing when compared with the southern states.”

“The approvals were of particular interest with demand for apartments in Brisbane increasing allowing quicker speed to market.”

PORTFOLIO | Ray White Commercial | 9

LONG MILITARY CAREER LEADS TO COMMERCIAL REAL ESTATE SUCCESS

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Honesty, loyalty, integrity, self-discipline and teamwork - these are the values Ray White Commercial Toowoomba Director and Property Manager Paul Schmidt-Lee brought from his long military career in order to succeed in real estate.

repairs etcetera.”

Mr Schmidt-Lee completed 21 years in the Australian Army as a telecommunications specialist/manager before pursuing a career in real estate. He said he believed starting his career in real estate was destiny.

“It has been a four or five year journey to becoming a commercial real estate business owner,” he said.

“It was a great life, travelling all over Australia, meeting wonderful people, and making lifetime friendships. The defence force has instilled in me the virtues I use in my current role,” he said.

“At the time when I was looking to retire from the army, an advertisement was put into the local paper - Do you have a passion for real estate? Would you like to earn a great income? Are you self-motivated?

I thought, ‘I tick all those boxes’, so why not. I applied and was accepted.

“I have always been interested in real estate - the excitement of bringing people together and closing a deal really interested me.

“As a young man I owned investment properties and it seemed like a natural progression to move into real estate where I could still help people reach their goals.”

Mr Schmidt-Lee’s real estate career started in 2006 as a residential sales consultant for another agency. He joined Ray White Commercial Toowoomba in 2016 as a property manager.

“What I like most about property management is the ability to develop long term relationships with property owners and tenants - it’s very challenging but very satisfying,” he said.

“Not unlike residential sales, property management is all about developing the relationship, communicating with all parties and being the problem solver.

“Commercial property management is normally a longer-term relationship, so as a property manager it allows me to help property owners to plan long term by finding and keeping the right type of tenant, ensuring their property is kept in good order by advising them on asset management, maintenance and

In November 2021, Mr Schmidt-Lee became a part-owner and director at Ray White Commercial Toowoomba.

“Director and Principal Brian Hodges has been my mentor throughout this journey and has been integral in guiding me in all facets of the business to ensure its continued success.

“We have attended Ray White’s succession planning seminars to ensure the change in roles was as smooth as possible.

“It has been a journey so far and I am sure that it will continue to be an exciting journey into the future.”

In his new role as director, Mr Schmidt-Lee said he hoped to enable the office and team to be more and more successful.

“Ultimately, we want to be the best we can be, the most successful office in our region and, as a director, I hope to help the staff and agents be the best they can be, more successful, earn more and achieve more.

“I find this very exciting and challenging, all at the same time.”

When he’s not working hard managing properties for his clients or helping to run the business, Mr SchmidtLee loves to spend time with his family.

“I am a husband to a wonderful partner Fiona (who is also our office manager), father to three adult boys, and grandfather to my two grandchildren who are both very energetic and full of life,” he said.

“I am also learning Spanish, and teaching my granddaughter - which is very exciting.

“I love to read and also enjoy the occasional big screen movie.

“Outside of this - having built a new home in the last couple of years, and there is always tinkering to be done to get our house made into our home.”

PORTFOLIO | Ray White Commercial | 11

FAMILIAR FACES PROPEL RAY WHITE COMMERCIAL IN SYDNEY Top performers Samuel Hadgelias and Scott Somerton are set to take Sydney’s commercial property market to new heights in opening their own business, backed

by Australia’s largest real estate group.

The new office, Ray White Commercial (SC) based in Sydney’s CBD, will service the sales, leasing and asset management needs of the metropolitan Sydney market and NSW in collaboration with Ray White’s extensive network.

Mr Hadgelias will head up the commercial sales division, with Mr Somerton focusing on the asset management business.

For Samuel Hagelias the move into business ownership is a special one, having grown up working in his parents’ agency Ray White Paddington in Queensland.

“My dad George Hadgelias was one of the first ever franchisees of the Ray White group, and is now coming up to 38 years of running my family’s business in Brisbane,” Mr Hadgelias said.

After studying a Bachelor of Law and Business majoring in property, Mr Hadgelias practised law for five years in Sydney.

He then made the move into commercial sales and leasing in 2015, working with Dan White and the Ray White Commercial team.

12 | PORTFOLIO | Ray White Commercial

He has risen up the ranks under the Ray White Commercial banner, working across some of the largest deals in the group’s history.

“Becoming a business owner was the next step in my career; our values align so heavily, and the brand recognition of Ray White Commercial is very important to me,” he said.

“The support and backing that the White family has given me, from employee to business leader is invaluable, and I look forward to doing the same with the dynamic team that we will build.

“One of the greatest assets that our group has is its ability to collaborate and leverage off relationships with other members across the country,” he said.

Scott Somerton, also a legal practitioner and chartered accountant, has extensive real estate experience working across asset management, insolvency, risk and credit.

Most recently he has worked in private equity with a focus on managing commercial and industrial property transactions. Over the past seven years, he has overseen the management and operation of over $1 billion worth of assets.

“Both of us having backgrounds across all asset classes, and all facets of a commercial property transaction will ensure we provide an end-to-end service for our clients,” Mr Somerton said.

Mr Somerton will bring an in-depth technical perspective of best practice asset management, having worked across complex properties in the hotel, office, retail and industrial markets to deliver secure cash flows while minimising risk.

“2021 was a record breaking year across most sectors in the commercial property market, and the predictions for the year ahead seem to be of similar sentiment.

There is a lot of strength particularly in the industrial market, and resilience throughout the office market in COVID-19 world,” Mr Hadgelias said.

“We are very detail oriented in all aspects of our work, and pride ourselves on excellent communication with clients to help build strong relationships,” he said.

“We also have the backing of first-class technology offered by Ray White Commercial,” Mr Somerton said.

One of their key priorities is to build a strong rent roll, providing a backbone of the business to grow organically through excellent service.

“We also want to recruit more sales and leasing agents and asset managers across every asset class; hardworking, like-minded professionals who are ready to deliver value for our clients,” he said.

Joining Mr Hadgelias and Mr Somerton in the new venture is operations and marketing manager Svetlana Lobinskaya, and sales associate Leslie (Yifu) Li. Dan White, Managing Director of the Ray White group, said that the new business marks a special moment for the group.

“It is always incredibly exciting to see the next generation of a family become leaders in their own right,” Mr White said.

“Samuel has had a brilliant example of leadership set by his father George, and now deserves his own opportunity following many years of hard work and from the endorsement of his clients. A commitment to excellence will no doubt be the hallmark of their business.”

Ray White Commercial Head of Agency Operations Andrew Freeman said he was thrilled to welcome the familiar faces into their own new office.

‘The depth of knowledge and experience that these gentlemen have will undoubtedly bring a lot of success to them and their clients.”

“Our commercial business is built upon the entrepreneurial ambition of our leaders and their commitment to building a successful environment for their teams. We are confident that Samuel and Scott will continue that tradition and build further on the momentum that the group has in the Sydney market.”

PORTFOLIO | Ray White Commercial | 13

HIGH-PROFILE RETAIL UNITS SELL FOR TOTAL OF $12.85 MILLION Four retail lots as part of The Towers at Elizabeth Quay have sold for a total of $12.85 million.

Located at 11 Barrack Street, Perth, the properties were sold to a private local investor and a private investor from Hong Kong.

Lot 276 sold for $6 million with a 5 per cent yield.

The property is currently tenanted by Six Senses Thai restaurant with a ten year lease.

The properties were all marketed by Ray White Commercial WA agents Brett Wilkins and Phil Zioti on behalf of Far East Consortium.

“The property is in a premium location of Elizabeth Quay and enjoys unparalleled, panoramic views of the Swan River,” Mr Wilkins said.

“The tenancies hold long leases and are well connected for business, tourism and leisure.”

Lot 278 sold for $4 million with a 6.1 per cent yield. The property is currently occupied as a sales office by Perth FEC with 3 years left on the lease.

Completed in 2019, Mr Zioti said The Towers at Elizabeth Quay enjoy high profile exposure as a landmark on the city’s skyline.

Lot 279 sold for $1.505 million with a 5.4 per cent yield, currently leased to Cargo Convenience for tenn years.

“The property is sitting alongside the new Ritz-Carlton, the new headquarters for Chevron and, with over $2 billion of development in the area, this is as giltedged as it can be,” Mr Zioti said.

Lot 280 sold for $1.345 million with a yield of 5.4 per cent. The property is currently tenanted by Lucky Necko Japanese restaurant with seven years left on the lease.

14 | PORTFOLIO | Ray White Commercial

Mr Zoiti found the Hong Kong buyer from his many International contacts and repeated business trips to Hong Kong.

TAMBORINE MOUNTAIN ‘INVESTORS PLAYGROUND’ WITH UNIQUE ASSETS UP FOR GRABS Tamborine Mountain in the Gold Coast’s hinterland is a playground for investors with a unique range of assets up for grabs including an organic skincare business, and a day spa.

Escarpment Retreat and Day Spa at 123-133 Alpine Terrace is up for sale for $5.5 million including 2.29 hectares of tranquil rainforest across two titles, and six luxurious spa villas.

The property is also development approved for 12 additional villas.

Another property for sale, located at 197-207 Long Road, is Jasmine Organics Farm. The international skincare business as well as the 2.52 hectare property are up for sale via expressions of interest.

PORTFOLIO | Ray White Commercial | 15

Both properties are being marketed by Ray White Commercial Broadbeach agent Thomas Clark.

plus a three bedroom house currently offered on AirBnb

“Long Road is an extension of the famous Galley Walk and has a number of commercial tourism assets, from breweries to skincare and everything in between,” Mr Clark said.

“Properties along Alpine Terrace come with breathtaking views through the valley towards King Parrot Reserve and the Gold Coast beyond.

“Jasmin Organics offer wellness products to 16 countries world wide. The asset on offer is a ‘business and property’ or ‘property and leaseback’ opportunity,

16 | PORTFOLIO | Ray White Commercial

“Escarpment Retreat and Day Spa offers a strong business and property opportunity plus a set growth plan with DA approvals already in place.”

Just 30 minutes from the Gold Coast, Mr Clark said properties on Tamborine Mountain were showing amazing value for money.

“Tamborine Mountain has so many different aspects making it a playground for all levels of interest,” he said.

Mr Clark recently sold Tall Trees Motel at 9 Eagle Heights Road, Tamborine Mountain, to an interstate investor.

“We have recently dealt with a high number of developers from subdivisions to retirement villages, passive investors looking to park money in areas unaffected by covid and floods, accommodation and tourism interest, and more.”

“The seller is local to Tamborine Mountain and owns other commercial assets on the mountain.”

“The property was sold via private treaty to a buyer who moved from Sydney to take on this new business and property venture,” he said.

PORTFOLIO | Ray White Commercial | 17

18 | PORTFOLIO | Ray White Commercial

SHOVEL READY DEVELOPMENT OPPORTUNITY 36-38 Commerce Drive, Robina QLD

Outlines Indicative Only

AUCTION

Thursday, 7 April at 11am at the Gold Coast Turf Club, Bundall • • • • • •

Rare opportunity for a new development in the heart of Robina BA for 15 residential units over three levels with ground floor office and retail space Land area 1,050m2* Existing 350m2* commercial building Zoned Neighbourhood Centre May also suit other professional uses

Scott Wells 0412 766 163 s.wells@rwsp.net Brad Merkur 0414 389 300 b.merkur@rwsp.net

raywhitecommercialgoldcoast.com

26 ROOM MOTEL WITH DA 20 Queen Street, Southport QLD

Outlines Indicative Only

AUCTION

Thursday, 7 April at 11am at the Gold Coast Turf Club, Bundall • • • • • •

Currently the Sundale Motel, comprising 26 self-contained rooms Projected income of circa $390,000* on permanent scenario Opportunity to develop an owner occupier & investment product Land area 1,743m2* Direct access to Light Rail Neighbouring Sundale Shopping Centre

Scott Wells 0412 766 163 s.wells@rwsp.net Brad Merkur 0414 389 300 b.merkur@rwsp.net

raywhitecommercialgoldcoast.com

NOOSA FORESHORE/RIVERBED LEASEHOLD + BUSINESS T Boat Hire, 290 Gympie Terrace, Noosaville QLD

OFFERS TO PURCHASE Closes 4pm Friday 6 May 2022 • • • • • •

1,858m2* foreshore and riverbed leasehold plus T Boat Hire business Profitable and stable - trading 80+ years Most prominent position on the river Fully staffed and all equipment and fixtures included No more commercial leaseholds will ever be released on Noosa River The leasehold and business are available in one line or individually

John Petralia 0414 812 719 john.petralia@raywhite.com

raywhitecommercialnoosasunshinecoastnorth.com

MODERN SHOPPING CENTRE & ADJOINING DEVELOPMENT S

25-31 Evans Avenue (North Mackay Central), North Mackay Q

EXPRESSIONS OF INTEREST Ray White Commercial Qld are pleased to present to the market North Mackay Central, for Sale via Expressions of Interest closing Wedneday 27 April 4:00 pm AEST. A modern daily needs shopping centre and adjoining development site, North Mackay Central offers a mix of grocery, allied health and mining tenants. Anchored by a new 10 year lease to the IGA, and 5 year lease to multinational mining company Glencore.

SITE

QLD

• Convenience based shopping centre with a 4.49* year WALE • 80%+* income from essential service tenants including grocery, mining and healthcare • Stage 2 Development site has potential for up to 1,500sqm* of additional GLA (STCA)

Michael Feltoe 0447 714 899 michael.feltoe@raywhite.com Lachlan O'Keeffe 0413 464 137 lokeeffe@raywhite.com

raywhitecommercialqld.com

OFFICE BUILDING PRIME POSITION

Lot 1/109 Herries Street, East Toowoomba QLD

SALE

Paul Schmidt-Lee 0499 781 455 paul.schmidt-lee@raywhite.com

Expression of Interest Closing 27th April 5pm • Centrally located modern office building, with 5 tenancies, totaling 350m2*.

• Under cover, open air & disabled car parking, with modern fit-out throughout.

• Estimated Passive Income $109,402.83 pa Nett + GST • Close to the CBD, hard wired for servers & NBN capable.

Peter Marks 0400 111 952 peter.marks@raywhite.com

*Approx

raywhitecommercialtoowoomba.com

PROFESSIONAL CBD OFFICE - GREAT LOCATION

Lot 2/109 Herries Street, East Toowoomba QLD

SALE

Paul Schmidt-Lee 0499 781 455 paul.schmidt-lee@raywhite.com

$570,000.00 (+GST if applicable) • 117m2* NLA street facing on 922m2* lot • Prime position in Professional Precinct • Ground floor Tenancy with multiple offices, kitchen & amenities

• 4 car parks included with property • Great opportunity to purchase a wonderful property in a sort after position • Rental Guarantee on offer

Peter Marks 0400 111 952 peter.marks@raywhite.com

*Approx

raywhitecommercialtoowoomba.com

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INVESTMENT PROPERTY 304/28 Smart Street, Charlestown NSW

AUCTION

13 April 2022 5:30pm online • • • • •

Commonwealth Agency Tenant 15 year lease (exp. Feb 2027) + 5 year option $127,050 PA Net Outgoings plus GST paid in addition to rent 330m2 approximately

John Parnham 0411 474 430 john.parnham@raywhite.com

• Allocated Basement Parking

raywhitecommercialnewcastle.com

MEDICAL INVESTMENT PROPERTY - TWO TENANTS Levels 2 + 3, 250 Pacific Highway, Charlestown NSW

AUCTION

13 April 2022 5:30pm online • • • • •

Nexus, Charlestown Private Hospital Ramsay Psychology Net Income $483,700 PA Combined Outgoings plus GST paid in addition to rent Allocated Basement Parking

John Parnham 0411 474 430 john.parnham@raywhite.com

raywhitecommercialnewcastle.com

CITY FRINGE MIXED-USE FREEHOLD OPPORTUNITY 66-70 Regent Street, Chippendale NSW

AUCTION

Auctionworks, Sydney CBD 5 April 2022 10:30am • • • • • •

Site area of 970sqm* Strong anchor lease to well known brand Budget Petrol Passing net income of $323,115.50 per annum* Zoned B4 Mixed Use, 15m Height Limit, 2:1 FSR Future repositioning or development upside^ 800m* to Central Station, 550m* to Redfern Station

Samuel Hadgelias 0403 254 675 shadgelias@raywhite.com Leslie (Yifu) Li 0403 261 752 leslie.li@raywhite.com

*Approx ^Subject to Council Approval

raywhitecommercialsc.com

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MITCHAM INVESTMENT THAT RAISES THE BAR 499A Whitehorse Road, Mitcham VIC

EXPRESSIONS OF INTEREST • • • • • •

Rental | $32,675.04 pa net Lease | Three (3) years Options | Three (3) years Zoning | Commercial 1 Located on Mitcham retail precinct Building area | 165m2* ($198 per m2*)

Brett Diston 0439 365 532 brett.diston@raywhite.com

*Approx

raywhitecommercialdistonassetservices.com

PORTFOLIO | Ray White Commercial | 21

PRIME CANNING HIGHWAY SITE 645 Canning Highway, Alfred Cove WA

Outline Indicative Only

SALE

Expressions of Interest • • • •

1,012sqm* Land Area Current Commercial Use Zoning: R20 41,147 daily passing traffic*

Enrique Reyes 0421 888 688 enrique.reyes@raywhite.com Josh Sumner 0488 221 331 josh.sumner@raywhite.com

*Approx

raywhitecommercialwa.com

CORNER SITE 2,112M2 OF RMD LAND

431 & 437 Gloucester St & 113 Stanmore Rd, Linwood, Christchurch

SALE

Deadline Sale closing 4pm Wednesday 13th April 2022 (unless sold prior) Fantastic opportunity to purchase a large versatile corner site ripe for re-development close to Central Christchurch. Currently operating as backpackers accommodation.

2,122m2 of Residential Medium Density zoned land in 3 titles. Potential of a holding income from 4 dwellings totalling 870m2*. Being sold "as is, where is". Sites of this size & zoning are rarely available. Choose to either;- keep it running as a backpackers? Or, land bank it for future development with possible holding income? Or, redevelop?

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

*Approx

www.rwcchristchurch.co.nz

Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)

DUAL STREET WAREHOUSE 24 Buchan Street, Sydenham, Christchurch, Canterbury

SALE

Deadline Sale closing 4pm Wednesday 13th April 2022 (unless sold prior) Industrial building in popular Sydenham. Handy location with easy access to main arterial routes & the central city. Showroom 81m2* (ex Cafe Cito). Warehouse 184m2*, office/amenities 30m2*, first floor/mezzanine 107m2*. Total 402m2*. Dual street frontage. On a freehold title of 543m2. Rear security fenced yard accessed off Hawdon St provides onsite parking (5) or outdoor storage/loading area. NBS 34%. To be sold vacant possession.

Paula Raine +64 27 221 4997 paula.raine@raywhite.com

*Approx

www.rwcchristchurch.co.nz

Licensed Salespeople (REAA 2008) - Ray White Commercial (Christchurch)

RAY WHITE COMMERCIAL KNOW PROPERTY MANAGEMENT Over 10,000 tenancies managed across Australia and New Zealand Utilising the most up to date technology to ensure your investment is always performing at its optimal level Over 140 property management specialists, supported by over 350 industry-leading commercial agents in over 49 locations across Australasia

WE MANAGE

Offices

Industrial/ Warehouses

Showrooms/ Bulky Goods

Medical Precincts

Childcare Centres

Service Stations

Pubs

Retail

Recreational Facilities

Food and Beverage

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Shopping Centres

Motor Dearlerships